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Zenger
Zenger
Business
Shanthi Rexaline

Tesla Cuts Prices For Their Lower End Models To Compete With Other U.S. & European Competitors

In an aerial view, Tesla cars sit parked in a lot at the Tesla factory on April 20, 2022, in Fremont, California. Tesla reported first quarter earnings that far exceeded analyst expectations with revenue of $18.76 billion compared to expectations of $17.80 billion. Tesla slashed their prices to compete with other automakers entering the EV market. JUSTIN SULLIVAN/BENZINGA
Tesla CEO Elon Musk uses his mobile device as he sits in the car arriving to the construction site for the new plant, the so-called “Giga Factory”, of US electric carmaker Tesla in Gruenheide near Berlin, northeastern Germany. Musk utilized the poker-faced strategy to lower the cost of the Model 3 & Model Y. ODD ANDERSEN/BENZINGA

Tesla, Inc. reduced the prices of its vehicles by about 6.7%-19.7% on Friday.

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